Morgan Stanley Sees Palo Alto Networks Exiting FY14 With a Head of Steam

In a report published Thursday, Morgan Stanley analyst Keith Weiss reiterated an Overweight rating and $105.00 price target on

. In the report, Morgan Stanley noted, “With fundamentals firmly intact, we believe PANW should post a solid Q4 against a low bar. An expanding solutions portfolio and new customer adds should sustain 30%+ billings growth thru CY15, while margins trend up.Trading at 28x CY15 FCF vs. a >35% growth profile, PANW remains a top pick.” Palo Alto Networks closed on Wednesday at $89.37.